Dec 4, 2012 - US firm Ideal Power Converters on Monday said it had completed the sale of convertible debt worth USD 4 million (EUR 3m).
The placement agent for the debt issue to a group of institutional investors was US investment bank MDB Capital Group LLC.
Ideal Power plans to use the funds raised through the private placement to step up the development and deployment of its electronic power converter platform for a number of markets.
The company, which develops disruptive power converter solutions for photovoltaic, grid storage and EV charging infrastructure, manufactures its products in Texas and sells them in the US and abroad.
(USD 1.0 = EUR 0.766)
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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.